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Addendum To Extend Contract
"I need an Addendum To Extend Contract for our IT services agreement with DataTech Solutions Ltd, extending the current contract for an additional 24 months from March 2025, with a 5% annual price increase."
1. Parties: Identification of all parties to the original contract and addendum
2. Background: Reference to original contract and reason for extension
3. Definitions: Key terms used in the addendum
4. Extension Terms: Specific details of the contract extension period
5. Effect on Original Agreement: Statement that all other terms remain unchanged
6. Execution: Signature blocks and execution details
1. Modified Terms: Any terms being modified along with the extension, used when other changes are needed
2. Additional Consideration: Details of any new consideration, used when additional value is exchanged
3. Conditions Precedent: Any conditions that must be met before extension takes effect
1. Updated Timeline: New project or delivery schedules reflecting extended period
2. Revised Pricing: Any price adjustments for the extension period
3. Original Agreement: Copy of the original contract being extended
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